Analysts Set M&T Bank Corporation (NYSE:MTB) Price Target at $251.43

Shares of M&T Bank Corporation (NYSE:MTB) have received an average rating of “Hold” from the twenty-two brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $251.4250.

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price target on the stock. in a research report on Thursday. Evercore set a $260.00 price objective on M&T Bank in a report on Monday, July 6th. Piper Sandler boosted their price objective on M&T Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Barclays upped their price objective on shares of M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group increased their target price on shares of M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, April 6th.

M&T Bank Trading Up 1.4%

NYSE:MTB opened at $249.36 on Thursday. M&T Bank has a 12 month low of $174.76 and a 12 month high of $255.00. The company has a current ratio of 0.89, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $230.22 and its 200 day moving average is $220.56. The stock has a market capitalization of $36.52 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the company earned $4.28 earnings per share. Sell-side analysts expect that M&T Bank will post 19.42 earnings per share for the current year.

M&T Bank announced that its board has initiated a stock repurchase plan on Tuesday, March 31st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 16.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 3,105 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the sale, the executive vice president directly owned 6,753 shares in the company, valued at approximately $1,462,024.50. This represents a 31.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC lifted its position in shares of M&T Bank by 233.3% during the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 84 shares in the last quarter. Triumph Capital Management purchased a new position in shares of M&T Bank in the third quarter valued at $32,000. Elyxium Wealth LLC purchased a new position in shares of M&T Bank in the fourth quarter valued at $33,000. Bank of Jackson Hole Trust raised its stake in shares of M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 60 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of M&T Bank during the 2nd quarter valued at $51,000. Institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.